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CRE Rent Growth Expected to Resume

Reports on the first quarter are out and signs are showing that rent growth will resume within the next three years for the commercial real estate industry. According to CoStar Group’s First-Quarter 2012 Office Review & Outlook this will be a result of the continuation of positive absorption, which got a boost from smaller businesses entering new leases, paired with the decreasing amount of office space available.

CoStar economists also reportedB rent growth and office demand in the future will also be attributed to the economy turning temporary jobs into permanent, full-time positions at a quick rate, and employees working more hours on average. If you are looking to move your business into office space in South Florida contact Morris Southeast Group for all your commercial restate needs.

Source: CoStar Group

New Development Includes Public Transportation Upgrades

Swire Properties was set to begin construction on their new mixed-use development, Brickell CitiCentre, later this year and the plans will now include public transportation upgrades. Recent reports state that the $1.05 billion project that will be comprised of 2.8 million square feet of office, residential, hotel, retail and entertainment spaceB will bring a redesign and additional enhancements to the Eighth Street Metromover station.

The proposed upgrades to the station intend to enhance its connection to Brickell CitiCentre, improve the landscaping under the Metromover guideway, and add two overhead pedestrian crossings that will span from South Miami Avenue to Southeast Seventh Street. Alyce Robertson, executive director of the Miami Downtown Development Authority, stated that “with the Metromover upgrades Brickell CitiCentre is slated to become another anchor for Downtownbs thriving Brickell Financial District, enhancing the neighborhoodbs 24/7 appeal among residents, businesses and visitors.b

To discuss moving your business to the flourishing area of South Florida contact Morris Southeast Group at 866-930-1426 for your commercial real estate needs.

Source: GlobeSt.com

Image: skyscrapercity

Miami-Dade Looks to Turn Commercial Space to Green Space

Have you ever noticed how many empty strip malls and parking lots you see as you make your way through Miami-Dade? If the county’s parks department has its way the abandoned commercial spaces will be purchased and turned into green space.B Doing so will help fulfill their 50-year plan of bringing interconnected green space within walking distance of every resident.

The Miami Herald reported that Mayor Carlos Gimenez has already stated his support and that:

The approach, dubbed Red Fields to Green Fields, is based on a strategy developed by Michael Messner, a Wall Street hedge-fund manager who says it can help reverse the flow of red ink in commercial real estate while removing blight and jump-starting the economic redevelopment of neighborhoods hit hardest by the recession.

To read more on the city turning empty commercial spaces into parks and trails visit The Miami Herald and then head back over to share your thoughts with us.

Image via flickr

CoStarGo App for CRE Industry Reaches 10,000+ Unique Users

In the age of smartphones and tablets there are applications available for just about everything in an effort to simplify our lives, and the same applies for commercial real estate industry.

Are there any apps that you use on a daily basis to help increase the productivity of your business? Share their benefits with us in the comments section!

Image from Apple iTunes

5 Tips for Subleasing Your Rented Commercial Property

Have you considered subleasing the area of your rental property that you don’t use? While this can help save money when it comes to your monthly expenses it will only work to your benefit if things are done correctly. If you are currently renting commercial space for your business, but are considering subleasing it keep these five tips in mind.

  1. Check with your landlord as well as the terms of your lease agreement to see if you are allowed to sublease the property and under what conditions.
  2. Consider if it’s a practical. Can the space, amenities, parking lot, common areas and etc. handle another business?
  3. Be mindful of who moves in; be sure that both of you can function without harming your businesses’ image.
  4. Hire a commercial real estate specialist and lawyer to put together a sublease agreement that is clear and comprehensible.
  5. Be mindful of your business’ future needs and how soon you may need the space back.

To discuss subleasing your rented commercial property in South Florida contact Morris Southeast Group at 866-930-1426.

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Are Tablets Right for Your Business?

When any type of new technology hits the scene for personal use, it’s only a matter of time before it crosses over into the business world. Just as smartphones made their way into the everyday lives of companies as a quick and easy way to communicate and handle business on the go, so are tablets. And although they seem to be replacing laptops are tablets right for your business?

When deciding if you should issue tablets to your company consider:

  • Function: Think about the main tasks that the tablet will be used for. Will it be mainly be used for presentations or when your employees are out in the field?B our briefcase or purse.
  • Size: The whole point tablets are their portability. Do want it to slide into jacket pockets or be fit for a briefcase or purse?
  • Accessories: Just as with any other portable technology you will need the right accessories to ensure that it works efficiently for your company.
  • Internal management: Will you be able to use your internal applications with it and will it be easy for your IT department to manage?

Are you considering buying tablets for your business or do you already use them? If so share your thoughts with us.

Mistakes Small Businesses Make When Leasing Commercial Space

Earlier this week we shared a few

  • Making impulse decisions. As a financial investment and place you will spend a great deal of time leave emotions behind in order to make a thorough, informed decision.
  • Relying only on listings. Listing are good to see what’s on the market but their information is often minimal inaccurate.
  • Entering a lease without the help of a broker. Brokers are not only market experts and experienced in negotiating leases.
  • Putting off the search for an office space. The search should begin at least six months prior to the estimated move-in.
  • Entering the process without any knowledge of what goes into leasing commercial spaces.

If you are in need of commercial real estate services in South Florida call Morris Southeast Group at 866-930-1426.

Office Leasing Tips for Your Small Business

After years of working in your home is it time that you move your small business into an office? If so now is the time to begin looking for a space to lease considering the fact that many businesses are downsizing to cut costs and putting their spaces on the market to be subleased. But if this is your first time searching for office space you may be unsure of what you’re getting yourself into, so when searching for office space to accommodate your small business keep these tips in mind:

  • Smaller is better.
  • Get the duration you want.
  • Ask for concessions.
  • Don’t expect a lot of slack on your security deposit.
  • Learn your market with the help of a broker, and hire a lawyer when you’re ready to sign the lease.
  • Look into the creditworthiness of your landlord.

For help finding office space to lease in Miami for your small business contact Morris Southeast Group at 866-930-1426.

Source: Bankrate

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